NAGA Review: A Closer Look at the Brokerage
NAGA, founded in 2015 by Yasin Qureshi and Benjamin Bilski, quickly rose to prominence in the trading world. With a successful IPO in 2017, the brokerage raised over $50 million on the Frankfurt Stock Exchange. However, a closer examination reveals certain concerns that traders should be aware of when considering this platform. In this NAGA review, we will explore the company’s background, its offerings, and the red flags that might signal caution for potential investors.
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Broker Website – https://naga.com/
Domain Age –
- Name naga.com
- Registry Domain ID 2066384_DOMAIN_COM-VRSN
- Registered On 1996-05-09T23:00:00Z
- Expires On 2025-05-10T23:00:00Z
- Updated On 2024-05-11T07:13:22Z
About NAGA
Headquartered in Limassol, Cyprus, NAGA provides a range of tradable assets, catering to both beginners and experienced traders. The company was previously licensed by the Cyprus Securities and Exchange Commission (CySEC), a regulatory body that offered oversight and protection for clients. While NAGA boasts a strong product offering, its regulatory status has changed, which is a crucial factor for traders to consider.
Red Flags to Watch Out For
One of the key concerns with NAGA is its current lack of regulation. Previously regulated by CySEC, the broker is no longer fully licensed, which may raise questions about security and investor protection. Moreover, traders should be cautious of NAGA’s flat fees and additional charges on copied trades. While these fees may appear standard, they can add up quickly and reduce profitability. Additionally, NAGA enforces withdrawal charges and limits, which could be problematic for users seeking quick and seamless access to their funds.
In this NAGA review, it is clear that while the platform offers many features, potential traders should carefully assess the associated risks and costs before committing.
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